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20121001
20121009
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CNBC 9
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CNBC
Oct 5, 2012 1:00pm EDT
warning those workers. here's the federal law and what it says. it says that companies with 100 or more workers must provide 60 days notice before mass layoffs or plant closings, or those workers can get up to 60 days of back pay if they are not notified. the republicans are crying foul and eamon javers picks under the story. >> reporter: here's what the omb said in late september -- it is neither necessary or appropriate for federal contractors to provide warn act notice to employees 60 days in advance of the potential sequestration because of the uncertainty about whether sequestration will occur. i've toualked to employees at t white house and omb about this question. their idea is this -- first of all, there's uncertainty about the fiscal cliff itself, whether it is actually going to happen or not. they say that the warn act is only required for those planning specific cutbacks and specific plant closings and they say since the employers in this case federal contractors don't know that sequestration is going to happen, therefore they don't have any specific information. and also the
FOX
Oct 2, 2012 4:00am PDT
role. john coffee, a law professor at columbia university, joins us via skype this morning with his legal insights. good morning and good to have you on the show. > > good morning to you. pleasure to be here. > > is it difficult for investors to get these cases to court? > > it's not difficult in the context of an ipo. there's probably no other legal context where the balance or the advantage is tipped as sharply in the favor of the plaintiffs as in the world of ipos and other registered securities offerings. > > i spoke with one attorney going to bat for clients against facebook. he says the case is stuck in procedure. is that the norm? > > the norm is that there's an awful lot of organization in the case. a case doesn't get started right away until one team of plaintiffs gets control of the litigation. then the next thing that will happen is that the defendants will make a motion to dismiss. that's the really critical motion, because typically if the defendants cannot get the action dismissed at the outset, then we're likely to get into settlement negotiations, which may take a ye
CNBC
Oct 2, 2012 6:00am EDT
or fast and furious, but they found more stuff that he's done under the law to maximize profits and minimize taxes. they got him ted dead to rights again. i don't know if any american cares. do you remember how the kennedys made their money? >> i think there was some boot legging. >> might have been a little boot legging. john kerry married and then left his yacht in providence or something, didn't he. and then john edwards flipping his magnetic business card at all the ambulances going by made $80 million. it's weird, isn't it? >> he was a good lawyer. >> and a hell of a human being, too, johnny. we have ten seconds. >> i don't think additional incremental disclosures about offshore investments will make a big deal. >> all right, my friend, thank you. >>> when we come back, we'll get to kevin ferry from the cme, we'll find out what's most likely to drive action on the second day of the quarter. smart comes with 8 airbags, 3 a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. monarch of
CNBC
Oct 5, 2012 12:00pm EDT
a jobs on another front. some republicans say the white house is bending labor laws for votes. senator john mccain is with us live. we'll talk about that and more with the last time presidential candidate on the gop side and the age old debate wall street bankers are they overpaid and are more cuts ahead. we got that and more top of the hour, jobs. >> sounds great. not often a finance minister is laughed at when tlifrg a speech but that's exactly what happened to spain's finance minister when he told a crowd in london that his country doesn't need a bailout. he was speaking to students at london school of economics and they chuckled at that. nevertheless the euro moving above 1.35 versus u.s. dollar. boris, good to see you. what do you make of the situation with the euro, with merkel going to greece next week, walking in to the lion's den. messy day. >> yes. but i think ultimately what you have to take away from this week is when draghi came out and said don't mess with me. basically there's a coalescing of ideas in the eurozone now around the ont and esm where most of the european key
CNBC
Oct 8, 2012 6:00am EDT
.s. laws. it is likely to become fodder for the u.s. presidential campaign, and there was a big piece -- >> on "60 minutes" and "wall street journal" and chavez won. >> apparently this is just a rumor, the bls the entire of bureau labor statistics from here was flown down to venezuela to monitor the election. >> the chicago guys were thrown down. >> ba-dum-boom. let's get to the story, the venezuelan president hugo chavez as joe was just saying -- >> 54-45. >> comfortable election victory that could extend his rule to 20 years. the next election isn't officially for six years but you had tens of thousands of ecstatic supporters flooding the streets around the presidential palace in downtown caracas, pumped their fists in the air and started shouting chavez's name. enrique capriles, he was beat by more than nine points. it will extend a wave of nationalizations and continue his support for left wing allies. we've heard how important this is for cuba, he has billions at his fingertips because of the oil produced there. this is the country we think has the biggest oil reserves in the wor
CNBC
Oct 2, 2012 9:00am EDT
of america decided to take the money. then they had to go to an equity law firm. this is encouraging to me. i would think this actual bailout is one that says, we are now past, the pig is much further along. you don't want a python swallowing a pig, but it's going to follow it when it is finished. >> words to live by, jim. words to live by. >> i think about that often, actually. >> we just listened to an incredible hour of television on "squawk box" with zell talking about what he's seen in the economy, talking more about corporate i.t. upgrade cycles. here's what zell said not too long ago. >> nobody wants to make commitment to be on tomorrow. we run a company that does a lot of corporate enterprising installations. and one of their triggers is when the enterprise projects start getting delayed, we are heading for a recession. and that's exactly what you're looking at right now. >> when the enterprise project starts getting delayed, we are heading for a recession. that collides with the calls we are seeing regarding cisco right now. jim, channel checks going on? >> cisco, morgan stanley put
FOX Business
Oct 2, 2012 11:00am EDT
of -- this happened about two years ago. she was working for a law firm. she now works in the attorney general's office. she essentially has brought over her work to file the same exact lawsuit on behalf of the new york attorney general at this time. eric snyderman is part of the obama have forced. the timing is a little suspicious. nonetheless, it is a little old at this point. we have a statement from jpmorgan. they say it relates to bear stearns. the complaint is entirely -- there were tumbleweeds rolling down the street with people bailing out. they took over bear stearns at this point in time. now they are being punished for it. they also say we are disappointed that the new york attorney general decided to pursue an action without an opportunity to rebut the claims. there is a lot of questions here about timing, about potential political motive. we will have the attorney general on "market now." the original charges are about to properly marketing the mortgage back securities. making them look like a are safer than what they are. it was one of the things that led to the financial crisis
FOX Business
Oct 8, 2012 9:20am EDT
. a law firm that those entrepreneurs and companies in south florida. welcome to the program. >> thank you. >> let's get this clear now, your business, your law firm works with small businesses and entrepreneurs. >> right. >> they come to you and say, hey, i've got a legal problem, a government problem. that happens. >> all the time. stuart: i want a list, what's are the problems they're running up against or into with the obama administration. >> first, the president doesn't appreciate the entrepreneur. the comments you didn't build it, that goes to the heart of it. let's talk specifics. specifically regulations, obamacare is a big heavy burden that was thrown on the entrepreneurs desk and saying, now comply. but no one read the bill when it was passed, 2000 page plus and now all the regulators are at it writing regulations around that bill. stuart: it doesn't apply to businesses with fewer than 50 employees. >> yeah, but look, small businesses are 50 plus as well and businesses who have 20 or 30 employees want to be 50 plus and that prevents them from being 50 plus. who would want to hir
FOX Business
Oct 4, 2012 3:00pm EDT
the budget deficit to 3% next year and signing into law the fiscal compound which would prevent france balancing its budget over the medium term. the concern with france at this point is closing the budget gap by raising taxes and to address issues about competitiveness and getting more people to employment in france they have to reduce taxes and labor taxes which are among our highest in the world and it would see how they are going to do that without public spending and that is something that has been reluctant to do. they have some time to turn that around. liz: lowering taxes improve the picture is what i am hearing you say. thank you for joining us. david riley of sovereign rating saying the triple the-credit rating for spain will remain the same even if they ask for a bailout plan. we are 16 minutes from the closing bell. walmart, target, bed bath and beyond. the want to get a read on their health? head to cleveland where real-estate investment trust td are which focuses on value oriented shopping malls coming up. we are talking to corp.'s ceo, daniel her when on whether the comm
CNBC
Oct 1, 2012 4:00am EDT
in a nutshell was allowing the banks to abuse certain laws in order to put in the books some interesting income actually as dividends. so they were paying less taxes. this is again manipulating somehow the laws. now the bank unicredit has actually plea bargained and has paid 265 million euros. the fraud was for 245 million is what these defendants are being accused of. and the bank did it not because they admit to wrongdoing, but because they did say that was just going to be a very long and drawn out case that they didn't want to have to deal with. on so now these defendants, 19 plus profumo. he says there was no wrongdoing and he's waiting with confidence that the justice system takes its course. note just in a few days, he is expected to take on more responsibilities at his new job which is chairman at italy's oldest and most troubled bank. he will expand his duties so he's being closely watched right now. back to you. >> all right. that's the late he is out of the trial in milan. we'll take a short break. still to come, american golfers feeling a little blue after the european stage an amaz
FOX Business
Oct 2, 2012 1:00pm EDT
for itself. the flagrant violations of law here, the misrepresentations to investors, the representation that they were doing were all a sham. we have internal documents reflecting that. we have substantial evidence. melissa: i think their argument for why that would be in the second statement for this date they acquired over the course of the weekend, this company at the hands of the u.s. company. they feel like they were forced to buy this company at a time the country's financial system was falling a part and in essence, no good deed goes unpunished. that is their argument. how do you respond to that? >> i have high regard for a lot of folks over there. with all due respect, they bought this company with a $29 billion taxpayer loan. if anything, i think the people, and most of america, feel like they were too few strings on the banks failed out by tarp. they know that acquired the assets and liabilities. we would send a terrible precedent if we said, phone, you know what, some people will get busted for material misrepresentation and fraud and some folks will get a pass. we cannot do
FOX Business
Oct 3, 2012 11:00am EDT
of financial industry. the regulation of the financial industry was all-time high. we had three new laws sarbanes-oxley, the patriot act, the privacy act, what we had was misregulation. what caused the financial crisis was the federal reserve in early 2000 trying to avoid a correction, made us all think we were wealthier than we are which caused us to overconsume. that ended up in housing, massive bubble in housing market. dagen: how much has the federal reserve created for the country just four years out, do you think? >> i think it's scary. it may work out, but we're going to be lucky. this really reminds me of the 60s and 70s. the lead time on inflation is long. and people don't realize that. by the way, qe 3 or all these qes are simply the federal reserve printing money. they like to make it obscure but all they are doing is printing money. dagen: thanks to former bb&t ceo john allison. scary is the operative word. connell: but a good interview. we have sir richard branson coming up in the hour, talking about when you should go to school or if you should skip class to start a company
FOX Business
Oct 8, 2012 4:00pm EDT
conclusion. >> reporter: the report says huawei in particular may have broken u.s. law and that the committee says it is referring the case to the fbi and the justice department. in a statement huawei says: the report released by the committee today employs many humors and speculations to prove nonexistence accusations. the integrity of huawei's operations and the quality and security of our products are world proven across 140 countries around the world, they are deployed by over 500 operators, and our products have served almost three billion people worldwide. zte has not responded to a request for comment. this report only recommends the government and businesses avoid these companies. to block them requires treasury's committee on foreign investment. treasury has failed to respond to repeated requests for comment there. analysts say the most significant damage to u.s. companies may come to their chinese operations. as that government may seek retaliation for what they perceive as election year slow economy politics. back to you. david: i love their line nonexistent accusations. the accusa
CNBC
Oct 5, 2012 6:00am EDT
. the current law doesn't do very much explicitly about health care costs. eventually somebody will have to reduce the volume of services or reduce the price of services. >> so what are you telling investors, buy hospital stocks, don't buy hospital stocks, by the good ones? how do the insurance companies fair? >> insurance companies win almost no matter what happens. so that's fine. >> there's medicaid advantage. >> right, medicaid, medicare. >> is there a head k medicaid advantage? >> medicaid hmos lose it if obamacare gets repealed because they're going to expand medicaid, as well. >> expand it greatly. and it's not block grants. a federal expansion. so what's your favorite stocks? >> my favorite stocks are the ones that are not that impacted by federal policy. united health, intuitive surgical. genetic analysis companies do well. but not completely unrelated to reform. and you can always go outside the u.s., too, if you want. so i guess you're not moving to france if about obama wins. >> alec baldwin didn't move, i'm not moving. we say things when we're upset and then we don't really
CNBC
Oct 2, 2012 4:00am EDT
of the world. because people want to believe. people want to believe in the rule of law for business. there was a great hope in many of the same 200 business people would say something and he didn't. and people want to hear something that there are changes of a foot. >> which brings us back to that point and whether we'll get anything more this afternoon. >> well, jim is absolutely right. trading at almost 50% it is count to a country like brazil. there is substantial it is count that is the intrinic rush of russia. one of the steps that the government is taking is to really be more open, more transparent. this event with direct access to the heads of the government and there are also several key ministers joining us. it's a way to try to convince capital that of course there are some concerns, but there is also great opportunity for business in russia. conditions and valuations are extremely attractive compared to other bric countries. >> ricardo, thanks for that. jim, thank you, as well. >> thanks for having me on. >> jim o'neill. as far as european stocks are concerned, after good
FOX Business
Oct 5, 2012 11:00am EDT
and see for yourself. it's law that just makes sense. so go to legalzoom.com today and see for yourself. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. dagen: a stock that has hit an all-time high 62 times this year. sherwin-williams. barkleys raised its price target to $171 a share and raised earnings guidance for 2013 and did you know this company is based in cleveland, ohio? connell: liz claman standing by with more. liz: without the trucks. the truck is on its way through cleveland showing fox means business and sherwin-williams coming that in a couple years on their 150th year in business. apps williams the number one company in america and number 3 in the world. they innovate all the time at the
CNBC
Oct 8, 2012 9:00am EDT
violated some laws. how important is this, dave? >> it's important. chairman rogers was an important component of the piece we did early this month that was on chinese cyber espionage. it focused on huawei. a company discovered the chinese were in their system, nortel. they went out of business. some claim it's because of huawei. chairman rogers is trying to raise the alarm on this. i can only tell you from firsthand experience, so many ceos of fortunate 500 companies who would not come on the program that we did a number of months ago because they fear for their business in china have admitted to me face to face that their firewalls had been breached by the chinese, that they'd been informed of that by the fbi. and so by doing this, chairman rogers simply is able to raise a larger awareness of it. as for the huawei allegation, we'll see. we haven't seen the report yet and the specifics. >> the reason why the issue has been treated with -- this has been going on over the course of a decade at least. it's not just in technology. it's in other areas of business where intellectual prope
Search Results 0 to 16 of about 17